Before the pandemic, the most reliable barometer of regional economic growth was an announcement that Amazon would be building a new fulfillment center and bringing a minimum of 1,000 new jobs to a community.
During the pandemic, the pace of these announcements sped up, as Amazon nearly doubled the size of its distribution network. The e-commerce titan voraciously added to its leased industrial space, acquiring a total of more than 370M SF, and accelerated its development program to build new fulfillment centers across the US.
Now, facing an economic downturn with an overextended logistics network that has millions of square feet of unneeded space, Amazon is telling locations that were expecting to cut the ribbon this year on a new fulfillment center that the completed warehouses may not open for up to two years.
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